- Migrants across the globe can send money to all major mobile wallets in Tanzania, Uganda and all mobile numbers in Nigeria.
Dubai, August 22, 2017: TerraPay, the world’s first mobile payments switch and Instant Cash, one of the fastest growing money transfer companies in the world, have teamed up to enable real-time cross border money transfers to mobile wallets. Powered by TerraPay’s global clearing and settlement service for mobile wallets, the partnership will make cross-border money transfer faster and convenient for the migrants. Instant Cash’s global agent network expanded their service offerings by offering cross-border transfers to mobile wallets, which is powering growth in many emerging markets. In the initial rollout, TerraPay has enabled Instant Cash customers to send remittances to mobile wallets in Nigeria, Tanzania and Uganda. In Nigeria, migrants can send money to any mobile number as well as bank accounts. In Tanzania, migrants will be able to send remittances directly to Vodacom M-Pesa, Tigo Pesa, Airtel Money and Zantel Ezy Pesa wallets. In Uganda, the friends and families of the migrants can receive money in their MTN and Airtel Money wallets. The service is expected to expand shortly in other countries in Africa which have a very high adoption of mobile money.
Ambar Sur, Founder & CEO of TerraPay commented, “We are excited to work with Instant Cash to provide millions of customers with access to fast, convenient and secure options to send money. Mobile Money plays an important role in bringing the financially excluded into the formal economy and drive remittances through formal channels. Our strategic partnership will bring the convenience of Mobile wallets to the global customer base of Instant Cash, making cross-border remittances faster, accessible and cheaper for the consumers.”
Commenting on the partnership, Philip C Daniel, Acting CEO of Instant Cash said, “At Instant Cash we take pride in being able to offer our customers and our agents world class service and the availability of the latest technology in the money transfer business. Thus, we are very excited to announce our partnership with TerraPay. We are looking at expanding our customer base in Uganda, Nigeria and Tanzania through this strategic partnership. This means we are now able to widen our mobile money wallet reach into relevant African markets that have expat populations in the GCC. It’s time for Africa.”
TerraPay, the world’s first mobile payment switch is a global transaction processing, clearing and settlement service for mobile wallets. It provides the interoperability engine that enables customers to send and receive real-time transactions across diverse payment instruments, platforms, and regions. The company believes in the power of mobile devices and is building the digital payment rails to fulfil their vision of enabling users to send money to any mobile.
TerraPay is a B2B company incubated by Mahindra Comviva, a global leader in delivering mobile financial solutions and is part of the USD 18 billion Mahindra Group. It is registered and regulated in several jurisdictions. In the UK, it is regulated by the Financial Conduct Authority (FCA).
For more information, please visit www.terrapay.com.
About Instant Cash
INSTANT CASH GLOBAL MONEY TRANSFER (popularly known as Instant Cash) is one of the fastest growing money transfer companies in the world. A member of the Emirates Post Group, Instant Cash is a UAE government owned money Transfer Company with offices in the UAE, Qatar, Oman, Kuwait, India, Pakistan, Bangladesh, Philippines and Kenya. With a network of over 250,000 locations, across the globe, an Instant Cash location is always close by. When you choose Instant Cash, you choose a money transfer service that is secure, convenient and competitive. The Company is proud to say that, over the years, they have made a positive impact on thousands of lives with their quick, easy and world class service and not to forget competitive pricing and fees ensure that their customers get more when they transfer money through Instant Cash.
Global PR & Manager